<\/p>\n\n\n\n
Hello,\nSatoshi clubbers! Another AMA took place in Satoshi Club and we would like to\nintroduce to you the AMA session with our friends from Defactor and our guests\nwere @b1rav @CF_vila. The AMA took place on 9 June.<\/p>\n\n\n\n
The\nAMA session was divided into 3 parts with a total crypto reward pool of 500$ <\/p>\n\n\n\n
In\nthis AMA Recap, we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
Gold\nRocket | Satoshi Club:<\/strong> Hello, dear Satoshi Club\ncommunity! We are pleased to announce AMA with Defactor.<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Hello \nSatoshi Club! We are happy to announce our AMA session with Defactor!\nWelcome to Satoshi Club😀<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Today our guests are @b1rav\n@CF_vila!<\/p>\n\n\n\n Ernesto\nVila:<\/strong> Thank you Satoshi Club for having us<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Hi everybody, thanks for having us!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Hello and welcome to Satoshi Club,\n@b1rav @CF_vila!😊<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Welcome here, guys!<\/p>\n\n\n\n Ernesto\nVila:<\/strong> Our pleasure!!!<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> How’s going?😀<\/p>\n\n\n\n Ernesto\nVila:<\/strong> Very good in a beautiful sunny day in Barcelona<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Thanks again for joining. Let’s\nstart!<\/p>\n\n\n\n Introduce yourself,\nplease. How did you get to be involved in crypto & Defactor?<\/p>\n\n\n\n Tell us please about\nyour position Defactor?<\/p>\n\n\n\n Barcelona is one of the\nmost beautiful places on earth<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> We finally have some sun in London 😊<\/p>\n\n\n\n Ernesto\nVila:<\/strong> My Name is Ernesto Vila I am a Co-Founder and CEO\nof Defactor, Today I am happy to be here my our CTO<\/p>\n\n\n\n my background is in\nlogistics, supply chain and trade finance<\/p>\n\n\n\n About 3 years ago I\nexited a logistics company I founded back in 1998 to start developing solutions\nfor logistics providers and international trade with the objective to digitize\nsome of those paper intense processes.<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Great experience! 👍<\/p>\n\n\n\n Ernesto\nVila:<\/strong> Back in 2019 I took a blockchain class at Oxford\nUniversity that changed everything for me. Since then we have been shifting\nfrom traditional business to blockchain solutions.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Green technologies are close to\nyou.🌱<\/p>\n\n\n\n Ernesto\nVila:<\/strong> Towards the end of 2019, during a conference in\nVienna we saw a presentation of Maker DAO and their plans to onboard real world\nassets to the Maker Ecosystem<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Wow, you have such courses! Awesome!<\/p>\n\n\n\n Ernesto\nVila:<\/strong> From there we got an introduction to Centrifuge who\nwas pioneering real world asset tokenization and we decided to do a pilot\ntogether. That was the very beginning of this journey.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> They are cool guys, no wonder you\nwere so inspired.<\/p>\n\n\n\n Ernesto\nVila:<\/strong> I will let Bahirav introduce himself as he has the\nmost incredible background<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Thanks Ernesto!<\/p>\n\n\n\n As Ernesto says, I’m\nthe CTO for Defactor. I’ve been working\nin the tech industry for over 20 years now and I first got involved in trade\nfinance \/ supply chain finance back in 2013 when I was the CTO for a global\nsupply chain finance company<\/p>\n\n\n\n My interest in\nblockchain technologies started around 2016\/7 when we were looking to see how\nwe could use blockchain in financing trade around the globe but those were\nearly days 😊<\/p>\n\n\n\n For the past year I’ve\nbeen working with Ernesto on their journey in the DeFi space and this is how we\nnow have Defactor!<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Did you find how?😉<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Guys! You have a great background\nfor starting a business. And ideas. <\/p>\n\n\n\n So… What is the\nessence of Defactor?<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Now we certainly have, back then,\nthings were much more difficult 😃<\/p>\n\n\n\n Ernesto\nVila:<\/strong> The essence of Defactor is to bridge Real World\ncompanies to tap into DeFi<\/p>\n\n\n\n a lot to talk about\nthat<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Great goals 👌<\/p>\n\n\n\n How long does it take\nto develop a project? What plans do you have for the future? And what can we\nexpect from Defactor?<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> We’ve built connectors into DeFi\nliqudity i.e. Centrifuge and what we will be doing over the next 6 months is\nbuilding the additional tools and infrastructure to bring on additional asset\noriginators onto the platform, we have a number of asset origination partners\nthat we are working with and what you can expect is that we’ll be starting with\ninvoices and then moving onto loans and eventually real estate<\/p>\n\n\n\n Of course the timeline\nfor the different asset classes is announced on our roadmap<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Can you share your roadmap with our\ncommunity 😀 so, everyone can check it<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> https:\/\/defactor.com\/product-roadmap\/<\/a>\n<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Thanks for great introduction, we\nwill have a question selected for the Part 1. Ready to start?<\/p>\n\n\n\n Ernesto\nVila:<\/strong> Yes we are<\/p>\n\n\n\n Bhairav\n@ Defactor: <\/strong>Yes indeed!<\/p>\n\n\n\n Q1 from Telegram user\n@pixma00<\/em><\/strong><\/p>\n\n\n\n Defactor\nis the solution, it is an easy-to-use platform that allows real-world asset\noriginators to seamlessly access DeFi liquidity and provide investors with\ninsight into the underlying assets being funded. It has an easy-to-use\napplication to authenticate and incorporate assets, allowing cryptocurrencies\nand trust bridges; connection to liquidity groups; protection through\ninsurance; along with strong governance and community support. Are you\nstipulated to have a global launch? What are the resources that you currently\noffer? What are the uses of the $ FACTR token? Does this technology also apply\nto countries that have restrictions? How does Defactor unleash decentralized\nfinance?<\/strong><\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Complex question 😀<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> We’ll be unleashing decentralized\nfinance by giving real world asset originators the means to gain additional\nlines of funding for their assets. At\nthe moment asset originators are struggling to gain financing and DeFi\ninvestors are looking for somewhere more tangible to put their money. Defactor enables both sides to gain what they\nwant<\/p>\n\n\n\n Ernesto\nVila:<\/strong> A question of many parts<\/p>\n\n\n\n The primary function of\nthe $FACTOR Token is to distribute value to \nstakeholders. Fees will be earned\nin the following ways:<\/p>\n\n\n\n Network \/ Application\nCharges<\/p>\n\n\n\n Margin on lending rates<\/p>\n\n\n\n Crypto <> FIAT\nspread \/ fees<\/p>\n\n\n\n Secondary Market fees\n(Early liquidation)<\/p>\n\n\n\n Non Performing Loan\nManagement<\/p>\n\n\n\n A portion of this\nrevenue will be used to buy $FACTR at market to replenish spending allocation\nbuckets eg. Staking Rewards<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> A lot of ways to earn!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> great benefits👍<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> With regards to technology, we’ll be\nopen to asset originators from all countries and a number of the asset\norigination partners we are working with are funding companies across the globe<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Where we can buy $FACTR now?<\/p>\n\n\n\n Ernesto\nVila:<\/strong> The $FACTOR Token will also form the basis of the\nDefactor governance process and provide the ability for stake holders to\npropose, vote and approve items to move the project forward. One key one will be should defactor.finance\nopen to allow investors participate directly in deals generated by the network.<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> How ordinary users can participate in\nDefactor?<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Private fundraising is currently\nunderway, we’re planning a public IDO launch towards the end of July<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Wow! Really soon🚀<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> It’s near😉 do you already know\ndetails?<\/p>\n\n\n\n Ernesto\nVila:<\/strong> The users can participate in the Staking Pools<\/p>\n\n\n\n and Governance of the\nprotocol<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Gotcha 😀 hope we will be able\nsoon<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Does community activity affect the\nfinal product?<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Details will be coming soon 😊 The private sale is going well, we have\nreached our softcap and are motoring towards our hardcap target<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Don’t forget to share with Satoshi\nClubbers😊<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> We definitely won’t 😊<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Thank you very much for such an\nextensive answer! ready for the next question?<\/p>\n\n\n\n Ernesto\nVila:<\/strong> Yes, the community will be able to vote to accept\nnew asset classes or new asset originators and even different territories<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Fire away!<\/p>\n\n\n\n Q2 from Telegram user\n@Highpee <\/em><\/strong><\/p>\n\n\n\n One\nof the problem of onboarding asset originators is the difficulty in assessing\nknown and unknown credit risk. To solve this, Defactor will introduce a Credit\nAssessment Risk Score to determine the level of funding available against an\nasset. Can you explain the differences between the Supplier Concentration limit\nand Debtor Consensus limit and how they interplay to arrive at a credit rating\nthat is indicative of the funding risk of an asset? What invoice size limits\nare considered before the protocol will release the collateral NFTs to the pool\nfor funding? In what way will you monitor the funding history to be sure that\nfunding is in tandem with an asset pool credit rating?<\/strong><\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> So it is important to split out a\ncouple of things here<\/p>\n\n\n\n For an individual asset\nthere will be credit risk analysis performed – the asset originators themselves\nwill have their own risk scores (those that are already providing funding) and\nDefactor will also perform risk analysis<\/p>\n\n\n\n For limits such as\nsupplier concentration and debtor concentration, they will be set by the\nfunding pools themselves and Defactor will enforce those rules. Invoice size limits will depend on the pool,\nbut generally there would need to be some meaningful yield generated on an\nasset in order for it to go through the process<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> This pools will be on Defactor\nplatform?<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Defactor will also be doing due\ndiligence on the asset originators themselves and their practices, finally as\nwe will be tokenizing the assets and regulating the flow to the pools, we’ll be\nkeeping a track of the funding history to ensure that any limits set, aren’t broken<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Initially we’ll be using pools made\navailable via Centrifuge<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Gotcha!<\/p>\n\n\n\n So how will the process\ngo? Starting with the infusion of funds and ending with their withdrawal?<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Ernesto will take this one<\/p>\n\n\n\n Ernesto\nVila:<\/strong> Right now we are connected to Centrifuge, so once\nan asset has passed the risk assessment is then minted and the values of it\nmade into an NFT, this NFT is the collateral place on the liquidity pool to\nobtain DAI and finance the transaction<\/p>\n\n\n\n In the case of Trade\nFinance we are also taking the physicals underlaying goods been transported as\ncollateral for the transaction<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Nice system! It seems simple and secure\n👍<\/p>\n\n\n\n Thank you for your\nanswers, guys! Are you ready for the next question?<\/p>\n\n\n\n Ernesto\nVila:<\/strong> Yes we are!!!<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Yes!<\/p>\n\n\n\n Q3 from Telegram user\n@Asela1112 <\/em><\/strong><\/p>\n\n\n\n $FACTR\nwill affect directly in the sustainability of the network and community due to\nthe native token of Defactor platform. What are the privileges that can be\naquired not only for $FACTR holders, but also for the Defactor platform by\nusing the $FACTR as native token? I heard about voting system in your platform.\nSo what kind of oprations, Can $FACTR holders vote? What about the whales of\n$FACTR? Will there be not any special offers for them in Defactor Platform?<\/strong><\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> The kinds of operations we are looking\nat making part of the voting system are the onboarding of new asset originators\nand entering into new territories<\/p>\n\n\n\n As mentioned the token\nwill unlock access to the tools and services on the platform but it will also\nbe used to incentivise asset originators<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Which feature is your greatest\npride? 😊<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> A difficult one to answer, we’re proud\nof everything – but what I would say is that as we have seen first hand what it\ntakes for asset originators to integrate into DeFi liquidity and by bringing\ndown the barriers we can really make it easier for companies to obtain funding<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Thanks for your answers! Ready to\nproceed to the next question?<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> What is even more exciting is<\/p>\n\n\n\n Q4 from Telegram User\n@kimterbear<\/em><\/strong><\/p>\n\n\n\n Defactor\nis initially released in Ethereum Network due to the fact that its liquidity\nproviders are in the ssid network as well (Centrifuge and Maker) However, with\nEthereum issues regarding its high gas fees, people are less likely to adopt in\nthis network despite its superiority as a blockchain. Do you also have plans\nfor cross chain to incline with mass adoption? What steps do you plan to do in\norder to convince people that Ethereum or not, $FACTR will be worthy to buy?<\/strong><\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Yes we do, as mentioned we are\ncurrently plugged into Centrifuge but they are also building out on Polkadot\nand we will follow and as liquidity pools that we are able to tap into emerge\non other chains, we will be building bridges into them<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> You will have your own bridge, right?<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> This is the plan at present<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> And, as i understand you will follow\nCentrifuge? If they will add more blockchains you will do the same?<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Whoever owns cross chain bridges\ntoday owns the crypto world 😁<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> As one of our partners we will\ncertainly work with them to ensure we can access funding for our asset\noriginators, as other pools become available to us, we will also be working\nwith them<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Thanks! That’s clear! Next question is\nalso connected with your partnerships 😀 are you ready for it?<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Go for it!<\/p>\n\n\n\n Q5 from Telegram User\n@NataliyaKil<\/em><\/strong><\/p>\n\n\n\n ConsolFreight\nand Centrifuge were the first strategic partners and early adopters of the\nDefactor platform. You are currently also partnering with LendWise, Accelerated\nPayments, iHuddle and Black Manta, which add more value to the Defactor ecosystem.\nWhat development prospects do I have for Defactor thanks to these alliances,\nand what does the Defactor platform give to its partners that other similar\nplatforms do not have? What makes you different from others? What other\ncollaborations are expected in the near future?<\/strong><\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> That’s a great question<\/p>\n\n\n\n There are a few angles\nto this question so first<\/p>\n\n\n\n Accelerated Payments,\nLendwise, iHuddle all give us the opportunity to scale the platform quickly but\nin a controlled manner. Each of those\ncompanies is looking for additional liquidity to fund deals they already have\ngoing through their platforms<\/p>\n\n\n\n Defactor gives them the\nability to grow not in just funding volumes but to open up new territories<\/p>\n\n\n\n For example, Accelerated Payments can expand\nthe dollar financing they already provide in Africa<\/p>\n\n\n\n Lendwise is able to\nfund more student loans<\/p>\n\n\n\n We will also be\npartnering with non-asset originating partners so expect some more\ncollaborations announced with more operational and strategic partners<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> Great opportunities for both of\nprojects!<\/p>\n\n\n\n Ernesto\nVila:<\/strong> In the case of Consol Freight we will allow them to\nexpand their market reach by implementing the tools for them to onboard more\nlogistics providers to their platform and expand beyond the 49 countries they\nhave presence on<\/p>\n\n\n\n Mary\n| Satoshi Club:<\/strong> What about your future partnerships?\nWhich direction you’re looking at?<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> They will be more operational and\nstrategic i.e. insurance is on our radar and we are already talking with\npotential partner around how we can bring this to the platform<\/p>\n\n\n\n Ernesto\nVila:<\/strong> We are currently in conversation with well\nestablished factors that are looking to expand into US$ denominated\njurisdictions<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Thanks for the great answers!\nReady for the final question of this part of the AMA? 🚀<\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> Definitely!<\/p>\n\n\n\n Ernesto\nVila:<\/strong> Yes we are!!<\/p>\n\n\n\n Q6 from Telegram User\n@Jonahapagu<\/em><\/strong><\/p>\n\n\n\n Going\nthrough some of the components of Defactor, i came across the \u201cDeal Liquidator\u201d\nwhich is said to be a secondary market where investors will be able to release\nliquidity by trading their investments, and that this will also be used to\nliquidate any deals at risk of non-performance through a partner network\u2026 How\ndoes this secondary market work, againt what will investors be trading their\ninvestments for in the Deal liquidator, What partner networks will Defactor be\nusing for the liquidation of deals, and how will Defactor liquidate deals\nconsidered to be at risk of non-performance usign the deal liquidator and a\npartner network\u2026<\/strong><\/p>\n\n\n\n Bhairav\n@ Defactor:<\/strong> That’s another great question<\/p>\n\n\n\n The idea behind the\nsecondary market is for us to allow investors to sell a whole or part of their\ninvestment if they have the need to liquidate, this is further down in our\nroadmap at present as we are talking to a potential partner regarding this<\/p>\n\n\n\n For non-performing\nassets we again are working with partners to either collect on the debt owed or\nsell the for any non-performing assets. \nIt should be noted that the asset originators we are onboarding\ncurrently, do have their own insurance and collections process to mitigate the\nrisks for investors<\/p>\n\n\n\n Gold\nRocket | Satoshi Club:<\/strong> Sounds good 👍<\/p>\n\n\n\n Thank you very much for\nyour answers! it was dynamic and very interesting! 👍<\/p>\n\n\n\n Please share useful\nlinks with Satoshi Clubbers before opening the chat😊<\/p>\n\n\n\n Ernesto\nVila:<\/strong> Please follow us at https:\/\/t.me\/defactor_official<\/a> <\/p>\n\n\n\n